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研報掘金丨光大證券:新城控股全年目標達成可期,維持“買入”評級

光大證券研報指出,新城控股(601155.SH)10月銷售表現弱於大市,商業經營穩中有進,全年業績或延續承壓。10月份公司實現銷售額26.2億元,同比減少56.6%,環比增長14.2%,銷售邊際改善幅度小於10月份克而瑞百強房企整體表現(克而瑞百強房企10月份銷售額同比+4.9%,環比+70.1%),或因三四線城市銷售復甦偏慢及公司近年來新增土儲不足有關。24年1-10月,公司累計實現租金收入98.8億元,同比增長15.5%,商業運營總收入105.9億元(含税),完成2024年商業運營總收入125億元目標的85%,全年目標達成可期。公司商業穩步發展,提升穿越週期實力,有望帶動利潤率逐步回升,財務保持穩健,PB估值處於低位,維持“買入”評級。

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